Tongaat AGM: why so discreet?
Fund managers didn’t bother to go to the AGM, saying they prefer to handle their concerns in private discussions
30 January 2020 - 05:00
Between September 2017 and March 2019, four of the country’s most powerful fund managers spent billions of rands of their clients’ money buying up shares in sugar giant Tongaat Hulett.
Then in March, Tongaat confirmed there had been a series of "accounting irregularities" and those shares, already at a low, shed nearly half their value again. Eventually, in June, Tongaat’s shares were suspended from trading on the JSE...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.